CHAIRMAN'S AGM STATEMENT 2007
CML Microsystems Plc ("CML"), which designs, manufactures and markets a broad range of integrated circuits, held its Annual General Meeting today at 11am at Layer Marney, Essex.
Following the formal proceedings of the AGM the following statement was made by Chairman, George Gurry;
"Before opening the meeting to questions from the members, I will take the opportunity to comment on the Group's performance through the opening months of the current year, and to advise members of changes to the composition of the board.
In my Statement with the report and accounts for the year just ended, I indicated that the results for the opening months of the current year were either on course or slightly ahead of operating budgets.
I can now add that the unaudited results for the first full trading quarter present a similar outcome, and I am encouraged by this, and by the progress expected in addressing opportunities before the Group, to remain confident that your company will achieve a firm improvement in performance for this current year.
I wish to advise members that I have during recent months experienced mobility difficulties resulting from earlier vascular leg surgery, and an improvement to this situation appears unlikely.
The problems this causes become evident when undertaking full time executive duties, and I have reached the view that it is appropriate, therefore, that I resign from my executive position as joint Managing Director but will remain as Chairman in a non-executive capacity.I have advised the board of my intention, and it has been agreed that my resignation will take effect from September 30th 2007 and that Chris Gurry will be sole Managing Director from that date."
ENDS
CML Microsystems
Plc
Tel: 01621 875 500
Nigel Clark, Financial Director
Chris Gurry, Business Development Director
Parkgreen Communications Ltd
Paul
McManus
Mob: 07980 541 893